Whether you are a buyer or a seller understanding the current market trends is critical to a successful sale or purchase. Market conditions are changing and knowing the current equilibrium between buyers and sellers in your market and neighborhood is critical. Market knowledge let’s buyers submit successful offers and allows sellers to maximize sales proceeds.
In this post we will focus on the Winter Garden and Oakland Real Estate markets located in zip code 34787. In August 2013 the 34787 zip code lead all 58 zip codes in Orange and Seminole Counties for total number of sales.
The following table highlights the key Real Estate stats for the month of August and makes a comparison to July and January.
With real estate prices in Winter Garden and Oakland up 26% for the year, homeowners that have been considering selling their homes are moving off of the side lines, as evidenced by the increase in Homes Available for Sale. The Homes Available for Sale increased 14% from the prior month and 42% above the January level. Great news for Buyers!
The Average Sales price in Winter Garden has increased 26% for the year, with a negligible increase in August from the the prior month. The Average Days on Market for a listing was only 53 days in August down dramatically from July and January. The surge in Buyer demand for homes in the Winter Garden market has resulted in many sellers receiving multiple offers. Great news for Sellers!
At current sales levels there is only a 2.3 months supply of inventory.
It will be interesting to watch these trends over the next few months to see how the dynamics shift between sellers and buyers and the impact on the rate of increases in home prices.
If you want to know the value of your home contact us today for a free market evaluation and if you are a buyer we can provide you with current market and neighborhood specific information for your area of interest.